Note

11.

Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share include the effect of conversions of stock options and nonvested shares. The computations of basic and diluted earnings per share for

2018

and

2017

(dollars in thousands, except share and per share amounts) are as follows:

	For the Years Ended December 31,
	2018		2017
Numerator, in thousands:
Net income (loss) from continuing operations	$	6,134	$	(11,760	)
Net income from discontinued operations	$	-		895
Net income (loss) available to common shareholders	$	6,134	$	(10,865	)

Denominator:
Weighted average common shares outstanding – basic		93,961,799		92,800,392

Weighted average common shares outstanding – dilutive:
Weighted average common shares outstanding – basic		93,961,799		92,800,392
Stock options		—		—
Nonvested shares		508,258		—
Weighted average common shares outstanding – dilutive		94,470,057		92,800,392

Basic earnings (loss) per share:
Net income (loss) from continuing operations	$	0.07	$	(0.13	)
Net income from discontinued operations		-		0.01
Net income (loss) available to common shareholders	$	0.07	$	(0.12	)

Diluted earnings (loss) per share:
Net income (loss) from continuing operations	$	0.06	$	(0.13	)
Net income from discontinued operations		-		0.01
Net income (loss) available to common shareholders	$	0.06	$	(0.12	)

Options to purchase shares of common stock were outstanding during each period as presented below (in thousands, except exercise price), but were

not

included in the computation of diluted earnings (loss) per share because the number of shares assumed to be repurchased was greater than the number of shares to be obtained upon exercise, therefore, the effect would be anti-dilutive.

	For the Years Ended December 31,
	2018		2017
Number of stock options		72		1,411
Weighted average exercise price of stock options	$	1.17	$	0.89

There have been

options granted during

2017

2018

. During

2017,

the Company granted

4.3

million shares to directors, officers and other members of management, of which

2.3

million vested,

1.1

million were forfeited and

0.8

million remaining outstanding to vest in

2019

and

2020,

assuming the grantees are still employees or directors of the Company as of the vest date. During

2018

, the Company granted

3.3

million shares to the Board. All of these shares will vest in

2019,

assuming the grantees are still directors at the vest date. As of

December 31, 2018

and

2017

, respectively, the Company had approximately

4.2

million and

4.3

million non-vested shares outstanding. The weighted average impact of

0.8

million

and

1.1

million non-vested shares were

not

included in the calculation of earnings per share for

2018

and

2017

, respectively, because they were anti-dilutive.